What is the amount of child tax credit

Assignment Help Accounting Basics

Reference no: EM132665497

Problem 1: Tom and Darla are married and have three children, ages 5, 11, and 18 years old. Their modified AGI is $68,000, and their tax liability on Form 1040, line 12a is $4,847. They claim $1,200 of education credits on Schedule 3 (Form 1040), lines 3. What is the amount of their child tax credit/credit for other dependents?

Select one:

a. $2,800

b. $3,647

c. $3,300

d. $4,500

Problem 2: Sophia is a single mom with a 17-year-old daughter whom she claims as a dependent on her tax return. Sophia's AGI is $35,000, and her tax liability is $1,724. She has no other nonrefundable credits. What is the amount of her child tax credit/credit for other dependents?

Select one:

a. $1,771

b. $ 500

c. $2,000

d. $ 0

Reference no: EM132665497

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